By Sarah Lizee
Olympia, Wash., Nov. 28 – Piramal Enterprises Ltd. notified the Bombay Stock Exchange that the administrative committee of its board of directors approved a private placement of Rs. 4 billion of 9% secured nonconvertible debentures due 2020.
There is an oversubscription option for another Rs. 1 billion of notes for a total issue size of Rs. 5 billion, according to the company notice.
Piramal Enterprises, formerly Piramal Healthcare Ltd., is a Mumbai-based subsidiary of the Piramal Group.
| Issuer: | Piramal Enterprises Ltd.
|
| Issue: | Secured nonconvertible debentures
|
| Amount: | Rs. 4 billion
|
| Greenshoe: | Rs. 1 billion
|
| Maturity: | May 29, 2020
|
| Coupon: | 9%
|
| Announcement date: | Nov. 28
|
| Distribution: | Private placement
|
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